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SINGLE-FAMILY RENTAL PROPERTIES (Tables)
 6 Months Ended
Jun. 30, 2024
Real Estate [Abstract]  
Schedule of Net Carrying Value of Investments in SFR Properties
The following table summarizes the net carrying value of investments in SFR properties:
June 30, 2024December 31, 2023
Land$189,694 $183,359 
Building758,777 733,437 
Capital improvements145,465 138,869 
Total gross investment in SFR properties1,093,936 1,055,665 
Accumulated depreciation(68,612)(53,737)
Investment in SFR properties, net$1,025,324 $1,001,928 
Schedule of Activity Related to the Net Carrying Value of Investments in SFR Properties and by Units
The following table summarizes the activity for the period related to the net carrying value of investments in SFR properties:
SFR Properties HFISFR Properties HFSTotal
Balance at December 31, 2023$1,000,357 $1,571 $1,001,928 
Acquisitions and capital improvements41,955 — 41,955 
Transfers to HFS(3,270)3,270 — 
Dispositions(1,140)(2,372)(3,512)
Accumulated depreciation(14,895)(152)(15,047)
Balance at June 30, 2024$1,023,007 $2,317 $1,025,324 
The following table summarizes the activity for the period of the SFR portfolio by units:
SFR Properties HFISFR Properties HFSTotal
Balance at December 31, 20233,882 6 3,888 
Acquisition of SFR units132 — 132 
Transfer to HFS(10)10 — 
Disposition of SFR units(4)(8)(12)
Balance at June 30, 20244,000 8 4,008 
Schedule of Future Minimum Rental Revenues Under Existing Leases on SFR Properties The following table summarizes the future minimum rental revenues under existing leases on SFR properties:
Remainder of 2024$32,296 
2025 and thereafter20,171 
Total$52,467